Vincom to build chain of trading centres

The property developer Vincom was expected to develop 10 trading
centres nationwide during the next five years, said the company's
chairman Le Khac Hiep.

Thanks to a large youthful population and rapid urbanisation, the retail
market was developing strongly, said Hiep, adding that in 2010, Vietnam
ranked fourth out of the 30 most attractive countries for retailers,
with consumption rising to 30 percent a year.

However, there were
not enough commercial and entertainment centres to meet rising demand,
which had encouraged Vincom's recent move, Hiep said.

"The 10
trading centres will cover a total of 1 million square metres
nationwide, especially in the big cities of Hanoi and HCM City," he
said.

Vincom will divide the projects into two groups, with
projects that have a total area under 100,000 sq.m named Vincom Centres
while those with areas larger than 100,000sq.m will be named Vincom Mega
Malls. As a result, the Vincom City Towers Hanoi have been renamed as
Vincom Centre Hanoi.

Hiep said the new Long Bien Vincom Centre will open this December and feature a shopping complex and entertainment zones./.